UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 418,505 Shares of Etsy, Inc. (NASDAQ:ETSY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Etsy, Inc. (NASDAQ:ETSY - Free Report) by 49.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 421,634 shares of the specialty retailer's stock after selling 418,505 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.37% of Etsy worth $22,300,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Voloridge Investment Management LLC raised its stake in shares of Etsy by 40.6% during the 4th quarter. Voloridge Investment Management LLC now owns 476,457 shares of the specialty retailer's stock worth $25,200,000 after purchasing an additional 137,602 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Etsy during the 4th quarter worth $288,000. Twinbeech Capital LP bought a new stake in shares of Etsy during the 4th quarter worth $8,330,000. Tairen Capital Ltd lifted its position in shares of Etsy by 75.0% during the 4th quarter. Tairen Capital Ltd now owns 35,000 shares of the specialty retailer's stock worth $1,851,000 after buying an additional 15,000 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Etsy by 4.6% in the fourth quarter. Tidal Investments LLC now owns 29,428 shares of the specialty retailer's stock valued at $1,556,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors own 99.53% of the company's stock.

Insider Buying and Selling

In other news, CEO Josh Silverman sold 21,666 shares of Etsy stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $48.23, for a total value of $1,044,951.18. Following the completion of the transaction, the chief executive officer now directly owns 31,818 shares in the company, valued at approximately $1,534,582.14. The trade was a 40.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Daniel sold 1,500 shares of Etsy stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $50.48, for a total value of $75,720.00. Following the completion of the transaction, the insider now owns 20,698 shares of the company's stock, valued at approximately $1,044,835.04. This trade represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,752 shares of company stock worth $2,473,662. 2.60% of the stock is owned by company insiders.

Etsy Stock Performance

Etsy stock traded up $1.74 during mid-day trading on Friday, reaching $54.73. The stock had a trading volume of 7,236,819 shares, compared to its average volume of 3,979,262. Etsy, Inc. has a fifty-two week low of $40.05 and a fifty-two week high of $66.93. The stock's 50-day simple moving average is $46.15 and its 200-day simple moving average is $50.66. The firm has a market capitalization of $5.71 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.78.

Etsy (NASDAQ:ETSY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The specialty retailer reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.04). Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The company had revenue of $651.18 million during the quarter, compared to the consensus estimate of $642.22 million. During the same quarter in the prior year, the business earned $0.48 EPS. The firm's revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts forecast that Etsy, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ETSY. JPMorgan Chase & Co. dropped their target price on Etsy from $50.00 to $42.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Evercore ISI dropped their target price on Etsy from $60.00 to $54.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft set a $40.00 target price on Etsy and gave the company a "hold" rating in a research report on Monday, April 14th. Citigroup dropped their target price on Etsy from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Etsy in a research report on Wednesday, April 30th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.14.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.